Bolder holdouts likely after Argentina, say experts

Bolder holdouts likely after Argentina, say experts

Bonds

Sovereigns are set to turn to tighter contracts as protection from holdout creditors who, in turn, could feel emboldened to pursue legal cases against defaulted countries, experts said in the wake of US court rulings against Argentina. “Restructurings will be more challenging because holdouts will be more emboldened to pursue their rights. But, in any restructuring, you have to consider the possibility of holdouts and free riders from the outset,” said John McCormack, a managing partner at Gapst

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